SEC WARNS AGAINST INVESTING IN PUNISHER COIN.

The Securities and Exchange Commission (SEC) has warned Nigerians against investing in Punisher Coin ($PUN), a crypto currency it deems unauthorized and potentially fraudulent. 

The SEC disclosed in a statement that the presale lacks regulatory approval, and the promoters are not registered to operate in Nigeria's capital market, adding that preliminary investigations reveal that Punisher Coin is a "meme coin" lacking tangible utility or real-world value. 

The commission, while noting that the Punisher Coin’s value is driven by hype and social media trends, thereby making it vulnerable to "pump and dump" schemes, cautioned that such schemes can lead to significant financial losses for unsuspecting investors.

Advising the public against participating in the presale of Punisher Coin, as any investment is entirely at one's own risk, the SEC urged investors to verify the legitimacy of digital assets, their promoters, and platforms before committing funds to avoid potential financial losses

##UTVAfrica##